Gorenje chooses Chinese megabrand Hisense as strategic partner

Gorenje chose Chinese megabrand Hisense as strategic partner which offered 12 euros per share, RTV Slovenia reported.

Let us remind that there were three binding bids for the offer to take over minimum 50% shares and two of the bidders were asked to raise their stakes.

After reviewing the three binding bids, Gorenje asked two of the bidders to raise their stakes. Gorenje then opted for Hisense as their strategic partner, which offered 12 euros per share. The offer was subject to a minimum acceptance condition of 50% plus one share.

Three criteria were considered in the selection process: strategic elements, the feasibility of the transaction, and the price per share.

- The chosen bidder has committed to publishing a takeover intent within 15 days. They will also announce a takeover bid in compliance with statutory deadlines, Gorenje said and in that way concluded reviewing the bids for strategic partnership

Hisense Group, founded in 1969, is one of Asia's larger companies manufacturing white goods and electronics. Hisense has 13 manufacturing facilities in China and several outside China, namely in Hungary, South Africa, Egypt, Algeria, France and Mexico.

Gorenje d.d. Velenje

Hisense

strategic partner Gorenje

white goods manufacturing